indeterminate. After opening the borders, the rigid wage country may export indeterminacy to the full employment country …, particularly if it is big enough. In contrast, when the full employment country is sufficiently big, local indeterminacy, and … fluctuations (associated with local indeterminacy and bifurcations) are possible with smaller externalities, whatever the relative …

indeterminate. After opening the borders, the rigid wage country may export indeterminacy to the full employment country …, particularly if it is big enough. In contrast, when the full employment country is sufficiently big, local indeterminacy, and … fluctuations (associated with local indeterminacy and bifurcations) are possible with smaller externalities, whatever the relative …

function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …

that indeterminacy of steady states and cycles can easily arise with constant or decreasing social returns to scale, and … increasing social returns are required to generate indeterminacy. …

productive external effects arising from average capital and labour. We show that indeterminacy cannot arise when there are only …

the wage income, local indeterminacy of equilibria cannot occur with capital externalities alone but that it can occur …, local indeterminacy occurs in a Cobb-Douglas economy. Finally, we show that, as a consequence of our restriction on first …

. We show that in order to get indeterminacy, the presence of both aggregate and sector-specific external effects is needed … consumption. We perform a sensitivity analysis and show that indeterminacy emerges for parameter values in line with those used in …